Huber v. Home Savings & Loan Ass'n

Citations

• 99 Wash. 593
• 169 P. 979
• 1918 Wash. LEXIS 661

Syllabus

<p>Building and Loan Associations—Stockholders—Withdrawal. Upon the withdrawal of a stockholder from a building and loan association, he must stand his pro rata share of any loss incurred, as determined by the financial condition of the association and the laws in force at the time of the withdrawal; in this case, Laws 1913, p. 326, Rem. Code, § 3601-1 et seq., and not the act of 1903, since the saving clause of the former act, Id., § 3601-26, has reference only to existing obligations of any association.</p> <p>Same. Notice of the withdrawal of a stockholder from a building and loan association, being for the benefit of the association, may be waived.</p> <p>Tender—Sueeiciency. There is in effect a tender where money due was exhibited and an offer made to pay the amount then admitted to be due, and any tender refused, as the refusal waives formalities.</p>